Ramaco Resources (NASDAQ:METCB) Trading 8.3% Higher

Ramaco Resources, Inc. (NASDAQ:METCB) shares rose 8.3% on Wednesday . The stock traded as high as $12.72 and last traded at $12.72. Approximately 18,300 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 28,604 shares. The stock had previously closed at $11.74.

Ramaco Resources Stock Performance

The company’s 50 day moving average price is $11.91 and its two-hundred day moving average price is $12.76.

Ramaco Resources Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.2416 per share. This represents a $0.97 annualized dividend and a yield of 7.74%. The ex-dividend date of this dividend was Thursday, February 29th.

Hedge Funds Weigh In On Ramaco Resources

Several large investors have recently added to or reduced their stakes in METCB. Global Trust Asset Management LLC grew its position in shares of Ramaco Resources by 1,237.6% during the first quarter. Global Trust Asset Management LLC now owns 14,647 shares of the company’s stock worth $184,000 after purchasing an additional 13,552 shares in the last quarter. Corsair Capital Management L.P. grew its holdings in Ramaco Resources by 11.7% during the 4th quarter. Corsair Capital Management L.P. now owns 79,573 shares of the company’s stock valued at $1,059,000 after buying an additional 8,328 shares in the last quarter. Acuitas Investments LLC raised its position in shares of Ramaco Resources by 4.0% during the fourth quarter. Acuitas Investments LLC now owns 186,097 shares of the company’s stock valued at $2,477,000 after buying an additional 7,204 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Ramaco Resources by 25.1% in the fourth quarter. Wedge Capital Management L L P NC now owns 61,322 shares of the company’s stock worth $816,000 after buying an additional 12,320 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of Ramaco Resources in the third quarter worth $611,000. Hedge funds and other institutional investors own 9.63% of the company’s stock.

About Ramaco Resources

Ramaco Resources, Inc engages in the development, operation, and sale of metallurgical coal. Its development portfolio includes the Elk Creek project that covers an area of approximately 20,200 acres located in southern West Virginia; the Berwind property covering an area of approximately 62,500 acres situated on the border of West Virginia and Virginia; the Knox Creek property, which covers an area of approximately 64,050 acres is located in Virginia; the Maben property covering an area of approximately 28,000 acres situated in southwestern Pennsylvania southern West Virginia; and the Brook Mine property that covers an area of approximately 16,000 acres located in northeastern Wyoming.